In 2013, ADB ready to approve $300 million program for sustainable urban transport in Baku
Baku, Fineko/abc.az. The Asian Development Bank (ADB) has awarded a grant for development of Multi-Tranche Financing (MFF) of Urban Transport of Azerbaijan.
The Bank reports that Baku Sustainable Urban Transport Program should become effective in 2013.
"The ADB plans investments in the Program at the level of $300 million, although the first tranche will amount $50 million," it was informed.
The Program is fully consistent with the SPPRSD and could contribute to some of the targeted outputs, among them: reconstructing 2,800 km of the country s roads in line with international standards by 2015 compared to 1,020 km in 2007 and improving good governance and the quality of public sector management so as to align with EU standards by 2015.
Introduction of the EU management and quality standards of urban transport is planned for the same date.
Earlier, the Bank approved a grant of $925,000 for preparation of the technical support of this MFF.
"The government of Azerbaijan, the Ministry of Transport and the Baku Metro asked the ADB to help improve the citys transportation system and provide technical and financial assistance for the modernization of urban infrastructure in Baku and strengthen public transport," the ADB reported then.
In addition, this MFF is listed in the Country Operational Business Plan (COBP) of Azerbaijan (2011-2013). Its outcomes will include (i) developing and efficient transport network and services, better logistics corridors, and better access to domestic and international markets; and (ii) providing adequate, efficient, safe, and low-carbon sustainable transport infrastructure network and services.
This priority program for the Government will be even further highlighted in the Country Partnership Strategy currently being prepared and scheduled for 2014 with the objective of an increased provision of and better access to urban transport. The MFF Baku Urban Transport Investment Program will be considered in 2013 and will promote efficient and effective urban transport services with incentives and capacity to improve quality, reliability, accessibility, affordability, integration and coverage of transport services.
The MFF Baku Urban Transport Investment Program will be considered in 2013 and will promote efficient and effective urban transport services with incentives and capacity to improve quality, reliability, accessibility, affordability, integration and coverage of transport services.
The investment program will finance the urban transport sector through non-physical and physical investments. The physical investments include road crossings and rehabilitation, bypass and road links and metro and other public transport network extensions.
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